Idemitsu Kosan Co.,Ltd. [5019.T]
TOKYO, May 12 (Pulse News Wire) – Idemitsu Kosan CO.,LTD. (5019.T) reported discrepancies between its previously announced forecast for the fiscal year ending March 2026 and the actual results.
For the nine-month period ending March 31, 2026, the company's revenue was forecast at ¥7.95 trillion million yen but came in at ¥8.11 trillion million yen, marking a difference of ¥155.9 billion. Operating profit was estimated at ¥68.00 billion and reached ¥212.2 billion, showing a variance of ¥144.2 billion. Ordinary profit saw a similar trend, increasing from ¥85.00 billion to ¥229.6 billion, resulting in a difference of ¥144.6 billion. Net income attributable to shareholders of the parent company also showed a significant deviation, rising from ¥75.00 billion to ¥171.9 billion, with a difference of ¥96.91 billion.
The primary reason for these variances is attributed to the sharp rise in crude oil prices due to deteriorating Middle East conditions, leading to positive time lags in the fuel oil segment. As a result, operating profit increased by ¥1.442 billion, while net income attributable to shareholders of the parent company rose by ¥969 million compared to the previous forecasts. Exchange rates and crude oil prices played a crucial role in these changes. The company had initially projected the price of Dubai crude oil at $66.7 per barrel, which increased to $71.8 per barrel, marking a difference of $5.1 per barrel.
Additionally, exchange rate assumptions were adjusted from ¥145.5 million to ¥150.7 million, reflecting a change of ¥5.2 million.
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